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Estee Lauder tops quarterly estimates on stronger Asia travel retail sales By Investing com
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Estée Lauder Cos (EL) Q3 Earnings 2024: Revenue Rose 5 Percent
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Estee Lauder lowered its annual organic sales estimate on persistent softness in mainland China's prestige beauty space, even as a demand rebound for its pricey items in the US and Asia-Pacific markets drove a profit forecast raise. Shares of the New York-based company dropped nearly 10% on Wednesday. Estee also beat third-quarter results expectations, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation had pressured sales of luxury items in the world's biggest economy.
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